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Management accounting is an applied discipline used in various industries. The specific functions and principles followed can vary based on the industry. Management accounting principles in banking are specialized but do have some common fundamental concepts used whether the industry is manufacturing-based or service-oriented.
[11] (Note: Shillinglaw's proposed principles were only considered for the select area of Cost Accounting – one offshoot of management accounting to serve external financial accounting specifically. His framework's stated intent was not to cater for Management Accounting per se but it nevertheless argued for causality as a principle.)
A management information system (MIS) is an information system [1] used for decision-making, and for the coordination, control, analysis, and visualization of information in an organization. The study of the management information systems involves people, processes and technology in an organizational context.
An accounting information system (AIS) is a system of collecting, storing and processing financial and accounting data that are used by decision makers.An accounting information system is generally a computer-based method for tracking accounting activity in conjunction with information technology resources.
In addition to general accounting functions, the software may include integrated or add-on management information systems, and may be oriented towards one or more markets, for example with integrated or add-on project accounting modules. Software applications in this market typically include the following features: Industry-standard robust ...
Generally Accepted Accounting Principles (GAAP) [a] is the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC), [1] and is the default accounting standard used by companies based in the United States.
SCM encompasses extensive management-control tasks. This range of subjects is summarized by the definition of supply-chain controlling. The transfer of existing management control systems (MCM) to the SCM is insufficient because these primarily aim at internal (company) needs. Beyond past-oriented, financial figures there must also be future ...
Accounting, also known as accountancy, is the process of recording and processing information about economic entities, such as businesses and corporations. [1] [2] Accounting measures the results of an organization's economic activities and conveys this information to a variety of stakeholders, including investors, creditors, management, and regulators. [3]